Although I did not select E*Trade Financials as my broker for this blog they are a great company. During my research on finding a broker for the retirement account I found them to be very competitive. Some of my friends that use E*Trade Financials (ET) are very happy with the service. However, I personally like Fidelity. To me they are just a tad bit better in customer service and that made all the difference.
So that being said. I wanted to invest in E*Trade but so far it was on a lower priority. Given that it was moving sideways I thought I could wait. Now seems to be a good time. Overall E*Trade seems to have lot going for it. However, one concern is the free trade phenomena started with Zecco. However, given E*Trade's diversified business line it should be able to adopt well. Other statistics such as PE ratio, growth rate are well within my expectation.
I also believe that with housing market down regular investors should be back in the financial markets. This bodes well for E*Trade as well.
I am selling put option contracts in E*Trade Financial with Jan 2007 expiration.
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2 comments:
Yikes! E*Trade is a very scary stock to me. Brokers tend to move with the market in general, but more so... when the market is up, there is more trading activity, when it's down, they're down more. Since I'm very bearish on the market in general at this point, high beta stocks like brokers are the last thing I'd be buying. I'd look for stocks with low market correlation (beta).
Looks like you had a good few months, though... still within reach of your first year 20% gain. Good luck.
Bet you wished you didn't invest in etrade now ROFLMAO
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